TIF 1 collections rise; RDC told flexibility will grow after bond maturities
Consultant reported a sizable increase in assessed value tied to TIF 1 and noted that with the 2017 bonds nearly paid, TIF 1 should produce more cash available for projects beginning around 2027.
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During the TIF presentation, the consultant identified TIF 1 as a legacy district (created 1993, expiring 2040) that showed a marked increase in assessed value passed through to overlapping units between 2025 and 2027. Carlson said spring collections were about $350,000 and that estimated annual TIF revenues were roughly in the $600,000–$700,000 range before obligations.
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